To begin, let’s look at the software and technology industry as a whole. There are close to half a million tech companies in the U.S. in sectors like e-commerce, cyber security, artificial intelligence creation, you name it, that employ 7.3 million people. With a global worth of $1.7 trillion dollars in information technology, it’s clear that there are a lot of opportunities for growth.
The software and technology industry is one that is broad and encompasses many verticals. The market is extremely fast moving and unpredictable and constantly growing. That, along with balancing product creation with your own ever-changing technology needs can certainly be challenging. Before we dig deeper into the other challenges the industry is struggling with as a whole, answer the following questions: What are the challenges you are facing in your software and technology space?
According to 75% of executives, digital sales and marketing is having a positive impact for a majority of software and tech companies resulting in an improved customer satisfaction.
Still, to grow, software and tech companies are confronting challenges with building awareness around their brand, alignment with customer wants and needs, communicating expertise, and competing with larger software and tech firms with newer projects, bigger budgets combined with very few dollars set aside for marketing.
Let’s look a little closer at some of the challenges facing software and technology companies. Many are struggling with the highly competitive market, not to mention new technologies being developed every day. Leaders have the responsibility to help the company adapt to constant changes and an evolving buyer persona. Likewise, in order to generate sales they have to find ways to build authentic relationships with those buyers.
Software companies have to stay on top of their websites, email, SEO, and content marketing to stay in constant touch with technology buyers.
The market is so unpredictable and constantly mobile that alignment is a very difficult challenge. The more software and tech companies automate, the faster they can align in order to be competitive.
The challenge of gathering and acting on real-time feedback from customers, clients, partners is essential in this market. Software companies also have to ensure that their communications are on brand, consistent, and constantly evolving. Leveraging automation and artificial intelligence will help you to communicate expertise which is essential for growth.
Many software and technology companies are challenged with new competitors and products constantly. They also have to constantly develop new technology in order to sell and adopt new technology to engage and retain new clients. On top of that, they struggle with procuring the funds and buy-in to fund costly marketing projects.
Here is some additional food for thought as you consider your company’s next steps. As you can see, a whopping $5 trillion will be spent on global IT and software spending growth is at 10%. Consider as well, an expansion of 6.7% in U.S. technology budgets shows us that there is a lot of opportunity for growth in this industry.
What are buyers looking for? Just like you want solutions, so do your buyers. The want to simplify the processes in their lives. When purchasing, buyers want clear and digestible information to compare features and functions, and they want to know the costs upfront. Also, as with most industries, consumers want self-serve options for information, for ordering, and for troubleshooting, to name a few.
Now, let’s talk about how HubSpot can help you overcome the challenges facing your industry and meet the needs and wants of your buyers.
HubSpot’s CRM platform has all the tools and integrations you need to solve for the many challenges we mentioned above. HubSpot was created so that never again do you have multiple databases that you are trying to force to work together, instead everyone is operating from one single source of truth. Likewise, each one is intuitive and easy to use for the ultimate customer experience. Each product in the platform is powerful alone, but the real magic happens when you use them together.
HubSpot’s tools allow you to collect the customer data and automate communications and marketing that is essential to your growth. HubSpot will also help you to develop a customer-forward approach to help you scale. With Hubspot, you will attract target customers, convert those visitors into engaged leads, and nurture those leads into sales-ready opportunities.
Now, let’s dig into how HubSpot has helped other software and technology companies like yours:
As you can see, HubSpot has worked with many companies in the software and technology space to solve for challenges with awareness, alignment, communication, limited resources, and much more. Let’s take a look at a few others.
Townsend Security is a leading provider of encryption and key management systems for over 20 years in Olympia, Washington who was challenged with generating enough leads and competing with newer and larger companies.
With Hubspot, Townsend Security was able to increase traffic by 55% and increase leads 12 times. By embracing Hubspot’s content strategy, they were able to tackle the problem of a 38% decrease in organic traffic. They doubled-down on website optimization and utilized insights and metrics to generate better content. This has helped them to contend with an influx of new competition and compete with their larger budgets. The also built a pillar page with pertinent buyer information. With these additions and more, Townsend Security quickly generated 600 more leads.
Another content HubSpot user is eSafety which is an EHS training platform in Grand Haven, Michigan. The smaller company had the welcome problem of scaling to quickly and not having the tools and processes in place to grow gracefully.
They needed a platform to store data and customer information and a way to easily access all of the information associated with new leads and sales contacts. By adopting HubSpot’s Marketing Hub Enterprise they were able to build the perfect platform for their needs. They utilized the experts at HubSpot to answer questions and safely transfer all their data from their old CRM to HubSpot’s without any losses. Their customer conversion rate increased by 8%, their open to close conversion rate was 13%, and since going with HubSpot’s solutions, they closed 78 deals.
Prep Expert, located in Las Vegas, is an edtech SAT and ACT prep company that didn’t have a CRM and was struggling with managing and nurturing leads. They also had no way of proving efficiency and effectiveness of sales.
With Hubspot, they were able to streamline and automate their sales processes and optimize lead management and nurturing. HubSpot also helped them track, follow, and measure transactions and ROI. Prep Expert attributes $1.7 million in deals, a 118% increase in revenue, and a 153% increase in total transactions to their partnership with HubSpot.
HubSpot’s CRM platform has all the tools and integrations you need to solve for the many challenges mentioned above. HubSpot was created so that never again do you have multiple platforms you’re trying to force to work together, and instead everyone is operating from one single source of truth. Likewise, each one is intuitive and easy to use for the ultimate customer experience. Each product in the HubSpot CRM platform is powerful alone, but the real magic happens when you use them together.
HubSpot helps you to create a connected customer experience for individuals and companies seeking your services. It allows you to automate and unify your sales, marketing, and service teams so everyone is on the same page. It allows you to create workflows that make communication more efficient, while at the same time tracking them to ensure all leads are followed-through and buyer’s needs are met.
Sales Hub, Marketing Hub, Service Hub, CMS Hub, and Operations Hub are each part of HubSpot’s connected CRM platform to help you grow better. When you use two or more hubs together, your data is automatically connected on the platform, enabling you to easily (and powerfully) track your entire customer journey from first website visit, to closed deal, to happy customer.
HubSpot Sales Hub is a time-saving sales CRM that provides you with an in-depth 360 degree view of your prospects, while minimizing busy work and giving your sales team time to close deals. Sales Hub can also help you leverage documents, and track bids and proposals, ensuring the right follow-up communications occur. Sales Hub helps you track revenue by deal stage across various pipelines. Create email onboarding sequences to automate deal stage communications and reduce manual follow-up for recurring communications. And, that is just the tip of the iceberg.
Rather than using multiple tools to accomplish each of these tasks separately, HubSpot’s sales software enables teams to do all their work under one roof. Save time and energy by using a single tool, rather than splitting up your team’s energy (and information) across multiple platforms..
HubSpot Marketing Hub is a CRM-powered marketing platform that allows you to create, manage, and track your marketing campaigns. It provides everything you need to get found, connect with new prospects, and nurture them into buyers.
With Marketing Hub, all your marketing tools and data are in one place, so you don’t have to juggle multiple solutions and waste time stitching together reporting. It’s deeply powerful and easy to use. Last but not least, you can easily sync Marketing Hub with more than 1,250 custom integrations so your marketing team has all its favorite tools on one platform.
Popular features in HubSpot’s marketing software include the ability to:
- Build personalized, automated email campaigns
- Track marketing performance with built-in analytics and custom reporting
- Manage all your social media accounts in one place
- Design and host SEO optimized blog posts and web pages
- Get your whole team speaking with one voice with campaign management tools
Service Hub allows you to provide superior customer service. Among other things, it allows you to manage the onboarding of new customers, collect, organize, and respond to customer support requests, and ensure the growth and satisfaction of your customers.
While most customer service software solutions solve for a specific use case, Service Hub is unique in its connection to the HubSpot CRM platform. With features that make it easy to deliver authentic, personalized service, Service Hub empowers you to prioritize the customer experience.
CMS Hub is a content management system (CMS) that facilitates creating, managing, and modifying information on a website. With a CMS, your developers can build flexible, beautiful website themes that your marketing team can use to make website updates on their own, creating and personalizing your website for every visitor.
HubSpot’s CMS Hub allows marketers to take ownership over their website. You won’t have to worry about security concerns or broken pages, freeing you up to focus on the experience you’re providing customers instead. And with flexible themes, you can ensure your brand and design stay consistent across pages.
The Operations Hub seamlessly integrates with all the tools above, and allows you to connect data and automate processes for a friction-free experience between your teams. You are essentially aligning large amounts of data around a secure, single source of truth and presenting it in a clean, consistent, and easily accessible manner. Likewise, the Operations Hub helps you streamline processes that allow you to reduce manual work while at the same time personalizing your messaging and improving customer experience.
Wondering if HubSpot is right for you? Schedule a call with Carrie Gallagher at Lovable Marketing and learn how to start generating and nurturing the right leads for your business.